Prior to publication, the
information contained within this announcement was deemed by the
Group to constitute inside information for the purposes of the UK
Market Abuse Regulations.
8
August 2024
NAHL Group
PLC
("NAHL", the "Company" or the
"Group")
Half Year Trading
Update
NAHL (AIM: NAH), a leading marketing
and services business focused on the UK consumer legal market, is
pleased to provide a trading update for the first half of its
current financial year, covering the six months to 30 June 2024
(the "Period").
Since the AGM Statement and Trading
Update on 27 June 2024 (the "Statement"), the Group has traded in
line with the Board's expectations. Revenues for the Period
are expected to be £19.4m, (H1 2023: £21.0m) while operating profit
is expected to be broadly in line with last year.
The Group has made further progress in reducing
net debt and at 30 June 2024, net debt had decreased 7% to £9.0m
(31 December 2023: £9.7m).
In the Group's Consumer Legal
Services division, the actions that management have taken to address the
challenges in lead generation in National
Accident Helpline (NAH), as detailed in the Statement,
have resulted in a material reduction in average
enquiry acquisition cost towards normalised levels alongside a
modest growth in volumes. The Board
continues to believe that these headwinds are short-term in
nature.
In Critical Care, Bush & Co.
traded well during the Period and delivered double-digit growth in
revenue and profit. The Board is continuing to explore a
potential sale of the business and is pleased to report strong
levels of interest from a wide variety of potential buyers.
The Board will update shareholders on progress as
appropriate.
Trading through July has continued
to plan and as a result, the Board remains confident of delivering
a full year outturn in line with market expectations.
NAHL expects to announce its results
for the six months ended 30 June 2024 in late September
2024.
For
further information:
|
NAHL Group PLC
James Saralis (CEO)
Chris Higham (CFO)
|
via
FTI Consulting
Tel: +44 (0) 20 3727 1000
|
|
Allenby Capital (AIM Nominated Nomad &
Broker)
Jeremy Porter/Liz Kirchner
(Corporate Finance)
Amrit Nahal/Stefano Aquilino (Sales
& Corporate Broking)
|
Tel: +44 (0) 207 220 0500
|
|
FTI
Consulting (Financial PR)
Alex Beagley
Amy Goldup
|
Tel: +44 (0) 20 3727 1000
|
Notes to Editors
NAHL Group plc (AIM: NAH) is a
leader in the Consumer Legal Services market. The Group provides
services and products to individuals and businesses through its two
divisions:
· Consumer Legal
Services provides outsourced
marketing services to law firms through National Accident Helpline
and claims processing services to individuals through National
Accident Law, Law Together and Your Law. In addition, it also
provides property searches through Searches UK.
· Critical Care
provides a range of specialist services in the
catastrophic and serious injury market to both claimants and
defendants through Bush & Co.
More information is available
at www.nahlgroupplc.co.uk,
www.national-accident-helpline.co.uk,
www.national-accident-law.co.uk
and www.bushco.co.uk.